XRP Ledger Hits a Record 8.24 Million Wallets, but XRP Must Clear $1.40 Before $1.50 Is Back in Play

The number of non-empty XRP Ledger wallets has reached a record 8.24 million, according to Santiment data. Daily new addresses were 4,772, the fifth-highest reading since March, which points to steady network growth even while the price falls.

The price tells a different story. XRP traded near $1.32 on Friday in a 24-hour range of $1.30 to $1.33. It has lost about 18% over the past month and has pulled back from October highs near $1.60. On Thursday alone it fell 6.4% as the wider market sold off, according to The Motley Fool. In other words, wallet growth has not turned into buying pressure yet, and analysts note that more wallets do not necessarily mean more individual investors, since one person can hold several addresses.

Santiment names $1.40 as the first resistance. A sustained move above that level, with daily wallet creation holding near 4,000, could support a rally toward $1.50. On the downside, $1.30 is the first support, with $1.20 next if selling resumes.

With the price still well below its October highs, the first test is whether buyers defend $1.30.

The setup is conditional. Wallet growth is a healthy background signal for the network, but traders will want price to confirm it by reclaiming $1.40 before treating a return to $1.50 as likely.

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Sources:

• crypto.news: XRP price prediction, can XRP recover to $1.50 after October’s decline?
• The Motley Fool: Crypto Market Today, Oct. 22